Wouldn’t it be nice to just sit back, and let the money start flowing in? Well, that idea is the basic premise of passive income. Unfortunately, in order to get the ball rolling, you’ll have to invest something first, either money or some of your free time. In this article, I’ve compiled a list of 29 passive income ideas that don’t require too much work, but can provide excellent results when it comes to profit. Check it out!
1. License videos from your phone
Don’t worry, you won’t have to detail with complicated paperwork in order to get this done. All you’ll have to do is upload your content to websites such as Newsflare or Rumble. Although I wasn’t able to score a viral video yet, I’m more than happy with the profit gained from some of my attempts thus far.
Take a look at the picture below if you don’t believe me. The amounts are displayed in pounds, as Newsflare is an agency based in London.
Here’s one from Rumble as well, where I only sold two videos thus far.
I’ve been able to earn more than $5k in my life, based on royalties alone. Naturally, videos containing babies, cute pets and toddlers are still top earners. All you have to do is to learn how to sell videos.
2. Publish a book
I intentionally didn’t say write a book, as anyone can hire a writer to do it for them on Fiverr. All you have to do is publish it under your name. Once again, passive – all that’s left is to collect the royalties.
It all comes down to royalties one way or another. You can collect royalties from ads and affiliate links for years, and you can do it all off of just one video. In case you’re interested in learning how to make money off Youtube, take a look at this article, where we went into detail. If you need a quick summary, take a glance at the screenshot below.
Most importantly, you don’t even need to make videos by yourself. I hired a freelancer to make me a tutorial on how to make a WordPress blog, and I placed my affiliate link for hosting on HostGator in the description below. Even today, I still make some money off it from time to time, and the video itself has barely over 5K views in total.
Websites such as RobinHood and Wealthfront can be a great starting point, where you can learn to invest in a smart way. However, before you jump into the action, I advise you to first educate yourself as much as possible.
There’s really not much to talk about here. In case you have a free room, all you have to do is rent it using AirBnB, and let the passive income start rolling in.
6. Monetize your driving skills
Instead of picking up a hitchhiker along the way, sign in for apps like Uber and Lyft and turn it into profit.
7. Earn some cash back after shopping
I won’t go into detail now; I only wanted to mention it as an option. On this blog, it’s already written extensively about the topic, and I advise you to check out this article for further information.
8. Online courses
Platforms such as Udemy or Teachable are highly successful nowadays, as they sell thousands of online courses already. This means that there is some money to be made here, all you have to do is try to develop a course people would actually be willing to follow.
Once again, know that you don’t necessarily have to develop a course on your own, there are thousands of freelancers out there that would be more than willing to do it for you. Just come up with an idea that could sell, and sort out the kinks as you move forward.
9. Self-service coin-operated car wash
Let’s be honest here for a second, this option requires a lot of initial investment. Still, if you have some money saved up, I advise you to look into it, as these things can turn out to be a true goldmine.
Location plays a major role with self-service car washes, so pick your spots carefully. Best of all, you won’t have to do any of the work in order to get there.
10. Own a vending machine
Similar to the last idea mentioned, this one also requires some investing. In order to get into the business, you first have to buy a vending machine, clean it up as good as possible, and stock it full with food and beverages.
Furthermore, you have to place it in a good location, so put some money on the side for this endeavor as well. Ultimately, people claim that vending machines have a six-month return of investment rate, after which the income generated becomes almost entirely passive.
11. Rent your parking spot
Traffic jams are only getting worse by the day, and chances are that the situation will not change anytime soon. I’m sure that this statement stands true regardless of your place of residence.
Similarly, finding a parking spot is becoming increasingly difficult, especially in busy urban areas.
12. Stock photography
Turn your hobby into profit. Most people who are photography enthusiasts do it for the love of it, but if you have a keen eye and a decent camera, you can possibly turn it into a side hustle.
Best of all, it won’t feel like work, as you’ll be having fun while doing it. Test your skills by uploading a few pictures on Shutterstock, and hope someone will like it enough to buy it.
13. Peer to peer lending
Who wants to deal with bank loans anyway? You can use a platform like Lending Club.
However, is it really safe to borrow your hard earned cash to complete strangers?
Well, I did it for you, and you check out how that went here. Would I do it ever again? Probably, it’s easy money, after all.
In case you are a designer, this should be a walk in the park. Upload some of your work to websites such as Redbubble or Amazon merch, and wait to see what happens.
As always, you can also hire a designer to do the heavy lifting for you, but that requires some initial investments that might not pay off.
An app that saves you money, like that hasn’t been attempted before. I fully understand if you have your doubts in the effectiveness of such strategies, but then again, Paribus is free, so why not give it a go?
Thousands of people have already claimed their refunds, and so can you.
16. Open up a savings account
Naturally, this tactic only works if you already have some money stashed away. In that case, find a bank that offers the best conditions, and let it sit.
This is a waiting game, so don’t expect to see some crazy turnaround anytime soon. Still, as far as investments go, this might be the safest option there is.
17. Niche websites
Do you have tons of knowledge on a particular subject and know how to share it with the world? If so, opening up a niche website might be the perfect solution. In the beginning, you will have to work long and hard to gain an audience, (or simply find the right person to do it for you) but after that, it will be smooth sailing.
That’s when affiliate marketing comes into play. All that’s left to do is to write some interesting content and place your links in a smart way. If done right, it can almost work on autopilot.
Some great businesses first started off with crowdfunding, so don’t look down on this option. Most notably, real estate companies have been using this tactic for decades to gain the initial funds necessary to get the job started.
Don’t get me wrong, this isn’t easy by any stretch of the imagination, but if you have the right core group of people around you, anything’s possible.
19. Start a website
It’s not entirely passive from the start, as there are some initial investments to be made, but we’re talking about spare change, at least compared to the option mentioned above.
As the website gains followers, and the views go up, your chances of gaining money based on ads alone will skyrocket. You’ve guessed it, that’s an entirely passive source of income right there.
20. Get paid to put decals on your car
Several companies out there would be more than willing to pay you some money to place their advertisements on your ride.
Are they legit?
Truth be told, I never had any experience with it, so I can’t claim that they are, but if you’re interested, do some investigating of your own and find out. You can start at websites such as Carvertise and ReferralCars.
You have a product or a skill to offer to the world, but you just cannot find a way to get the initial funding down? Patreon could be a lifesaver.
People who visit this site are in constant search of interesting projects they can support, so make sure to do your presentation in the best way possible, and offer some rewards for those willing to aid you financially.
22. Create an app
Do you have an idea that can change the world? Nah, all joking aside, all you need to have is a good team of designers and developers, and come up with an interesting game, for instance.
Even a simple app can bring in a lot of money over time, if done right. Of course, not everyone can do it, but it’s not rocket science either.
23. Rent your tools
Some tools can be very expensive, and not everyone would be willing to buy such equipment in the first place. So, it’s a simple case of supply and demand. All you have to do is find a way to get into the game, and invest smartly.
Just to give you a quick example, you can buy some of those expensive Roomba Vacuum cleaners, and rent it out. Everyone wants to keep their house clean, but not everyone would be willing to pay close to $1,000 in order to do so.
24. Trim savings
Wouldn’t it be great to have someone to bargain and negotiate for you? Well, Trim savings app is filling that void perfectly. After scanning your receipts and bills, their team goes straight to work, trying to negotiate lower prices and discounts.
In case they turn out to be successful, they take a 25% commission, but if not, you won’t have to pay a dime. Ultimately, while the 25% fee seems downright scary, you don’t necessarily have anything to lose here, as you’ve already paid for all those items. It’s only a question of whether you’ll get any money back or not. It doesn’t stop there either.
Trim savings offers a neat referral system. Once your friends register by using your account, you’ll both receive $2 for free. A perfect passive income scheme.
Remember when you used to save spare change as a kid? Chances are you stopped doing it somewhere along the way, but with Acorns, you can once again resume that practice.
How does it work?
It tracks down all of your purchases, and rounds up every bill to the higher dollar. For example, if your check equals $2.45, the app will instantly round it up to $3, and invest the rest.
You won’t even feel a major difference in lifestyle, but you will become a proper investor before you know it.
26. Credit card rewards
Plenty of people use credit cards, but are completely clueless when it comes to rewards they can obtain if they made the right choice. For instance, some credit cards reward frequent travelers, awarding them with free miles, reimbursed travel costs, and many other great features.
If your line of work forces you to travel, you might as well turn it into profit. By taking a credit card that fits your needs perfectly, you will make the process entirely passive.
Invest some of your money in shares. Depending on how much profit the company of your choice generates, and how much stocks you have, you will get rewarded for your support.
As you may realize, this can be quite risky, so never invest unless you’re ready to give some of your money away. However, if things work out for the best, you will be looking at a handsome profit.
- Related: Best Index Funds
28. Publish music online
No one buys records anymore, but the music industry is still alive and kicking. How so? Well, streaming services play a huge role here.
But wait, what if I don’t even have any musical skills?
The answer is pretty obvious, just head down to Fiverr and find a cheap musician you love. All that’s left to do is to upload the purchased music to one of the many streaming services and collect the check.
29. Monetize your hobby
First of all, I know that hobby is supposed to be something interesting, that you love to do, but no one says you cannot make some money off of it in the process.
Regardless of your level of skill, you need to learn how to sell yourself and your product first, gain a following, and turn it into money. If you succeed, you will end up getting paid for doing what you love. Isn’t that the dream?
Check out: Hobbies You Can Monetize for Extra Income
30. Rent your car out to Uber/Lyft drivers
Earn passive income by renting your car out to Uber/Lyft and other service drivers through a company called HyreCar.
It is a quite simple process. You meet up with the driver, give them keys and HyreCar issues them insurance as long as they are driving your car.
Other posts to check: